Shares of Mercury Systems Inc. (NASDAQ: MRCY) surged over 5% in after-hours trading on Monday after the company reported better-than-expected results for its fiscal first quarter of 2025.
The aerospace and defense technology company reported revenue of $204.4 million for the quarter ended September 27, 2024, up 12.9% year-over-year. This exceeded analysts' consensus estimate of $181.8 million. Adjusted earnings per share came in at $0.04, beating the expected loss of $0.08 per share.
Mercury's strong performance was driven by robust bookings of $247.7 million in the quarter, resulting in a book-to-bill ratio of 1.21. The company's backlog reached a record $1.3 billion, up 16% compared to the prior year period. Adjusted EBITDA for the quarter was $21.5 million, significantly higher than the $2.0 million reported a year ago.